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This module introduces the student to entrepreneurship based from the perspective of small to medium-sized businesses (SMEs). SMEs play a central role in delivering solutions to business and social problems. The entrepreneurial work of SMEs is an engine of economic growth, innovation, job creation and social integration at a local, regional, national and international level. SMEs not only solve problems of value to their community, but in turn they face great challenges themselves. SMEs often have limited resources in terms of personnel, capital and market information, relative to larger organisations. This resource challenge can be both a source of innovation and efficiency, as well as a limiting factor. This impacts on how SMEs manage themselves, innovate, and on their ability to compete, grow or succeed in a competitive market. This module provides insight into these challenges as well as the opportunities that SMEs have in overcoming these barriers through their entrepreneurial activities.
SMEs are often characterised as more nimble and innovative than large organisations, yet large organisations originated, typically, as an SME seeking to compete against large firms, or to create a new market. This module will explore how SMEs can succeed, remaining an SME, or transitioning into a larger successful regional or global player. We will also explore the supports that SMEs can seek, or obtain from external stakeholders such as government, trade bodies and or universities, and how these can impact on the operational and strategic development of the SME.
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SME ENTREPRENEURSHIP
Semester 1
